Central Banking
Advisor Of The Year

SkySparc recognised as leading consultancy

Why SkySparc’s expertise is valued by central banks

As a leading independent solutions provider, SkySparc is dedicated to supporting the needs of central banks and government institutions.

For the more than a decade, we have worked as a trusted partner with central banks and government institutions on multiple complex projects, using our deep system knowledge to help clients large and small to achieve greater automation, transparency and flexibility.

Our commitment to meeting the evolving requirements of central banks and government institutions is reflected in the scale and reach of our services, the experience and expertise of our staff, and our continuous investment in proprietary methodologies and technologies.

To help central banks and government institutions configure, test and optimize their systems environment, SkySparc deploys robust, scalable and proven techniques across its three core services: consulting, OmniFi and outsourced support.

"It has proven instrumental in helping to tackle growing volumes of securities transactions and cashflows, a major issue for many central banks in Europe currently. SkySparc was praised by central banks for its methodological approach and ability to focus quickly on key issues."

Central banking publication

How SkySparc works with central banking clients

SkySparc helps central banks and government institutions to meet new requirements and challenges, while ensuring system reliability and performance, across the full range of functionality:

  • Portfolio / reserve management
  • Funding and debt management
  • Credit / counterparty risk management
  • Accounting
  • Reporting

For central banks, maintaining overall stability is critical, demanding complete reliability and peak performance of their financial systems. At the same time, keeping abreast of markets means that many central banks are engaged in major change management programs, from upgrades and management of ongoing systems enhancements to systems integration, ‘future-proofing’ and enhanced management reporting. The evolving requirements of central banks and government institutions are reflected in recent assignments:

  • Strategic data management / business intelligence projects
  • Risk management reporting automation
  • Availability of mission-critical systems via failover solution
  • Advisory services on adoption of accounting / messaging standards
  • Flexible outsourced support services
  • Upgrades using testing framework and methodologies, supported by OmniFi and our huge library of test cases
  • Structured quality assurance approach to system deployment, interfacing and configuration
  • Performance analysis and fine-tuning

SkySparc works closely with central banking clients, advising them on planning, managing and executing projects, deploying our expert consultants on and offsite as required. Whether delivering standalone projects or integrating with internal staff, for short-term projects or longer term support arrangements, SkySparc staff combine flexibility and dedication with best practice methodologies built on prior experience with central banking clients.

In every project, SkySparc’s in-depth treasury, risk and portfolio management system understanding is critical to formulating and implementing deliverables and solutions that meet central banking client requirements. SkySparc also leverages its OmniFi accelerator as part of innovative, automated solutions for advanced management reporting, testing, systems integration and reconciliation.

"SkySparc consultants were very proactive and focused on problem solving. They communicated transparently, which really helped us making decisions on how to deal with problems."

Nente Ravestein, Migration Manager, Netherlands Central Bank (DNB)

DNB Complex Reporting – Case Study

Central bank news

29 Aug 2018

SkySparc has appointed TradeTech Consulting/Virtusa veteran Daniel Alenius to lead its Outsourced Support business.

Press release

31 Jul 2018

SkySparc is delighted to welcome aboard a new central banking client.

17 May 2018

SkySparc is now providing clients with Patch Upgrade As-A-Service to improve project efficiency and reduce risks.

Press release

22 Mar 2018

SkySparc has successfully completed a long-term technical support engagement for a major European central banking client. Over the course of the engagement, SkySparc provided this long-term client with a range of technical support services on long-term projects, as well as complementing the in-house team on day-to-day maintenance-related tasks.

25 Oct 2017

We are pleased to announce that a major European state treasury agency will be using SkySparc’s Patch Upgrade As-A-Service to upgrade to a new version the Wallstreet Suite. They will benefit from our tried-and-tested patch upgrade methodology, as well as our independent quality assurance service, which guarantees the accuracy of processes and calculations in the new version.

10 Oct 2017

SkySparc has entered a four-year partnership to supply consulting and support services to the Dutch State Treasury Agency (DSTA).

Press release

13 Sep 2017

SkySparc has further extended its footprint in the European central banking market, as the Central Bank of Poland will deploy OmniFi in support of its upgrade to Wallstreet Suite 7.4. The bank will use a wide range of OmniFi’s capabilities to automate and accelerate the upgrade process, including data migration, reconciliation and automated testing.

6 Jul 2017

The Central Bank of Azerbaijan has selected SkySparc to provide onsite and remote support for a project to establish a new reserve site for its treasury management system, as part of the second phase of a major operational stability and business continuity initiative by the bank.

18 May 2017

New case study: Central bank’s risk department delivers flexible, higher quality reports through automation.

Read case study

Value delivered to central banking clients

Use of OmniFi reduces operational risk and increases productivity

Central bank’s risk department delivers flexible, higher quality reports through automation. Read more

Data warehouse enabled by OmniFi

SkySparc configured its OmniFi accelerator to help De Nederlandsche Bank overcome processing delays and tight time constraints to successfully implement a flexible data warehouse, thus enhancing reporting and analysis. Read more

Back-up facility meets deadline via outsourced support

SkySparc deployed onsite and offsite support to ensure the Central Bank of Azerbaijan implemented the first phase of its failover program on time and on budget. Read more

Automated testing delivers low-risk upgrade

A Euro-zone central bank achieved fast, efficient and secure testing for its upgrade to version 7.4 , through SkySparc’s use of OmniFi to create highly automated processes that minimized risk and internal workload by spreading tasks. Read more

Benchmarking measures performance and tests future resilience

We advised one of the world’s largest central banks on proactively improving the performance of its reserve management system to ensure future stability and resilience. Read more

"SkySparc’s consultants worked very methodically. Initially they spent quite a few days in workshops, talking to users in order to collect information about perceived bottlenecks in the system. Their approach always cut straight to the core of the issue and whenever they made a change, they were clear what they wanted to achieve."

Client Director closely involved in the project

Quality upgrade assured

SkySparc provided comprehensive third party quality assurance services to a leading EURO central bank during their 7.4 upgrade project. The requirement included a solution for thorough and effective testing of all migrated data. Read more

Complex reporting automated

SkySparc delivered faster, more responsive reporting for a major EURO central bank using OmniFi. Read more

Improved quality of automated upgrade testing

Thorough test packages have reduced risk and upgrade time for central banks. Read more

v7.4 upgrade assistance

We supported a major central bank in Europe during a large release upgrade project. SkySparc provided technical and functional assistance for the project and our responsibilities ranged across CSD migration to accounting configuration and test management.

Data warehouse project

A large EURO central bank selected OmniFi for their Data warehouse project. SkySparc helps the client make use of OmniFi’s interface capabilities to extract data from numerous different sources within Wallstreet Suite and prepare it for import to the target system.

Reserve management reporting

SkySparc is helping a central bank in Central Europe to implement automated reports in OmniFi v5.1 using the new web platform and scheduler for report distribution. The reports contain complex checks of risk related data and also provide executive summaries on different aggregation levels and for different time horizons.